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Underdevelopment of the third pillar: Compared with developed countries, the scale of the second and third pillar pensions in China is relatively low, which needs to be promoted through policy guidance.To sum up, the inclusion of the first batch of 85 index funds in the personal pension investment catalogue not only responded to the guidance of national policies, but also brought more incremental funds and investment options to the market, which is expected to have a positive impact on the expansion and stability of the market.

1.2 Impact of market expansion2.3 Market stability improvement1.2 Impact of market expansion

The first batch of 85 index funds are included in personal pension investment. How will the expansion affect the market? Interpretation of many fund companies2.4 Optimization of capital market structure2.5 Investor Education and Financial Literacy Improvement